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Typo Can’t Create a Bogus Creditor: ITAT Deletes Rs. 2.02 Cr Addition
Case Law Details
- Case Name
- Atul Jindal Vs ITO (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Chandigarh
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Atul Jindal Vs ITO (ITAT Chandigarh)
Assessee, proprietor of Usha Impex, declared income of Rs.42,83,680/-. Original assessment u/s 143(3) completed on 15.11.2016. PCIT revised the order u/s 263 on 25.03.2019 on the ground that a sundry creditor of Rs.2,02,00,000/- standing in the name of M/s Emkay Industries Ltd. was not properly verified. AO thereafter passed reassessment order u/s 143(3) r.w.s. 263 on 22.12.2019 treating the credit as unexplained u/s 68. CIT(A)/NFAC upheld the addition, primarily influenced by a clerical spelling variation in the ledger where the name was w...
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